Prestige Wealth Management Group LLC Cuts Stake in iShares Convertible Bond ETF (BATS:ICVT)

Prestige Wealth Management Group LLC decreased its stake in shares of iShares Convertible Bond ETF (BATS:ICVT) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 324,326 shares of the company’s stock after selling 10,175 shares during the period. iShares Convertible Bond ETF makes up about 5.5% of Prestige Wealth Management Group LLC’s investment portfolio, making the stock its 2nd largest holding. Prestige Wealth Management Group LLC owned about 1.34% of iShares Convertible Bond ETF worth $25,502,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICVT. 1832 Asset Management L.P. bought a new stake in iShares Convertible Bond ETF during the fourth quarter worth about $22,354,000. 360 Financial Inc. grew its stake in shares of iShares Convertible Bond ETF by 47.9% in the fourth quarter. 360 Financial Inc. now owns 95,330 shares of the company’s stock valued at $7,492,000 after buying an additional 30,885 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in iShares Convertible Bond ETF by 39.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 18,181 shares of the company’s stock worth $1,429,000 after buying an additional 5,100 shares during the last quarter. Pettinga Financial Advisors LLC acquired a new position in iShares Convertible Bond ETF during the first quarter worth $351,000. Finally, Blair William & Co. IL raised its position in iShares Convertible Bond ETF by 19.2% during the first quarter. Blair William & Co. IL now owns 2,790 shares of the company’s stock worth $223,000 after acquiring an additional 449 shares in the last quarter.

iShares Convertible Bond ETF Stock Performance

Shares of ICVT traded down $0.48 during midday trading on Friday, reaching $79.74. The stock had a trading volume of 127,723 shares. The firm has a 50 day simple moving average of $79.72 and a 200-day simple moving average of $78.80. iShares Convertible Bond ETF has a one year low of $50.43 and a one year high of $58.18.

iShares Convertible Bond ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.1528 per share. The ex-dividend date was Tuesday, September 3rd.

About iShares Convertible Bond ETF

The iShares Convertible Bond ETF (ICVT) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index of USD-denominated convertible bonds weighted by market value. The index contains only cash-pay convertibles and excludes mandatory and preferred convertibles.